Legal Opinion
Matter of Reading Co.
District Court, E.D. Pennsylvania
Decided January 4, 1980No. Bankruptcy 71-828PublishedCited by 4 opinions
1Opinion of the Court
OPINION RE TRAILER TRAIN STOCK
DITTER, District Judge.
In 1955 a group of railroads, including the Reading Company, formed Trailer Train Company to purchase rail equipment for lease to member shareholders. Reading invested $150,000. and was issued 500 shares of the corporation’s stock. Trailer Train has never paid any dividends; instead, it has reinvested its profits in additional equipment for the use of its shareholders. In 1971, Reading went into bankruptcy and in 1976, pursuant to the Regional Rail Reorganization Act, 45 U.S.C. §§ 701-94 (1974), conveyed its operating assets to Consolidated…
2Cases cited13 opinions
- Katchen v. LandySupreme Court of the United States · 1966
- Thompson v. Magnolia Petroleum Co.Supreme Court of the United States · 1940
- Singer v. Magnavox Co.Supreme Court of Delaware · 1977
- Weisbecker v. Hosiery Patents, Inc.Supreme Court of Pennsylvania · 1947
- Thompson v. Terminal Shares, Inc.Court of Appeals for the Eighth Circuit · 1939
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3Cited by4 opinions
- In the Matter of Reading Company, Debtor. Appeal of Trailer Train CompanyCourt of Appeals for the Third Circuit · 1983
- Tyler v. O'NEILLDistrict Court, E.D. Pennsylvania · 1998
- Matter of Reading Co.District Court, E.D. Pennsylvania · 1982
- Mather v. Willet DairyCourt of Appeals for the Second Circuit · 2008